U.S. debt now as big as entire economy
Holly Matthews, 7, of Kansas City, holds up a sign in Washington on Aug. 1, 2011, supporting a balanced budget amendment. Photo Credit:AP
The amount owed by the federal government to its creditors, combined with IOUs to government retirement and other schemes, now stands at $15.23 trillion. The government estimated the value of goods and services produced by the economy in a year at $15.17 trillion as of September. ...
According to long-term forecasts, debt will carry on growing faster than the economy, which would need to expand by at least 6 [percent] per year to keep pace.
Read the original article at The Daily Mail
Breaking Right Now on Times 24|7!
Tags
- Issues:Budget, Debt, Economy, National;
- Location:North America, United States; ;
- People:;
- Organizations:;
- Elections:















